Kalkine: ASX200 Markets Steady as Copper Stocks Surge Amid Global Trade Developments

3 min read | May 27, 2025 12:51 PM AEST | By Team Kalkine Media

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Kalkine: ASX200 Markets Steady as Copper Stocks Surge Amid Global Trade Developments — Image source: shutterstock

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Highlights

ASX200 remains mostly unchanged at midday trading.

Copper stocks lead gains with Capstone Copper up 6.2%.

Technology shares rise while iron ore miners face pressure.

The ASX200 experienced a largely steady session at midday, with the S&P/ASX 200 Index dipping by just 1.4 points, or less than 0.1%, reflecting cautious trading among Australian investors. The broader All Ordinaries index also edged slightly lower, down by 0.5%.

Markets in the United States and the United Kingdom were closed for a public holiday, which contributed to muted trading activity locally. European shares rebounded strongly following positive trade talks, with the Stoxx Europe 600 Index closing 1% higher after a temporary easing of tensions between the European Union and the United States over proposed tariffs. This positive momentum was supported by industrial and automotive sectors, adding to optimism in global markets.

In Australia, technology stocks continued to gain traction, extending their recent upward trend. Notable performers included WiseTech (ASX:WTC), which rose by 1.9%, and TechnologyOne (ASX:TNE), which gained 2%. These advances were influenced by strength in US technology futures, particularly in the Nasdaq, which boosted sentiment among local tech shares.

Meanwhile, the utilities sector experienced some weakness, with Origin Energy (ASX:ORG) falling 0.8% after announcing lower-than-expected earnings from its investments in Australia Pacific LNG and Octopus Energy. This weighed on the sector’s overall performance.

Iron ore miners faced ongoing challenges as metal prices declined on Tuesday, dragging BHP (ASX:BHP) down 0.7% and Fortescue Metals (ASX:FMG) by 0.8%. The persistent fall in iron ore prices reflects continued volatility in global commodity markets.

Copper stocks emerged as strong performers on the ASX200, driven by news of a potential offshore acquisition of Mac Copper, which is currently in a trading halt. Capstone Copper (ASX:CSL) led the gains with a 6.2% jump, closely followed by Sandfire Resources (ASX:SFR), which rose 2.2%. The copper price rallied in London, climbing 1.2% to $9,610 per tonne, further bolstering investor confidence in this sector.

In other corporate updates, Vulcan Energy (ASX:VUL) advanced 2.4% after commencing drilling at its Phase One Lionheart lithium project in Schleidberg. This is the fifth well within the scope of the project, highlighting ongoing expansion efforts in lithium exploration.

Telstra (ASX:TLS) slipped slightly by 0.3% despite announcing an increased target for return on invested capital, aiming for 10% by fiscal 2030, up from the current 8%. The telecommunications giant is unveiling a new five-year strategy to investors, signaling a focus on long-term growth.

The ASX200 remains on track with modest moves, reflecting a wait-and-see approach ahead of further global cues.

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